Common use of Bankruptcy of a Member Clause in Contracts

Bankruptcy of a Member. A Member shall cease to have any power as a Member or Manager or any voting rights or rights of approval hereunder upon bankruptcy, insolvency, dissolution or assignment for the benefit of creditors of such Member, and its successor upon the occurrence of any such event shall have only the rights, powers and privileges of a transferee enumerated in Section 7.2, and shall be liable for all obligations of the Member under this Agreement. In no event, however, shall a personal representative or successor become a substitute Member unless the requirements of Section 7.2 are satisfied.

Bankruptcy of a Member. A Member shall cease to have any power (i) powers hereunder as a Member or as Manager or any and (ii) voting rights or rights of approval hereunder hereunder, upon bankruptcy, insolvency, dissolution or assignment for the benefit of creditors of or by such Member, and its representative or successor upon the occurrence of any such event shall have only the rights, powers and privileges of a transferee enumerated in Section 7.2, 7.2 and shall be liable for all obligations of the Member under this Agreementhereunder. In no event, however, shall a personal such representative or successor become a substitute Member unless the requirements of Section 7.2 are satisfied.

Bankruptcy of a Member. A Member shall cease to have any power as a Member or a Manager or any voting rights or rights of approval hereunder upon such Member’s bankruptcy, insolvency, dissolution dissolution, or assignment for the benefit of creditors of such Member, and its successor upon the occurrence of any such event shall have only the rights, powers and privileges of a transferee enumerated in Section 7.2, and shall be liable for all obligations of the Member under this Agreementcreditors. In no event, however, shall a personal representative trustee or successor become a substitute Member unless the requirements of Section 7.2 12.3 are satisfied.

Bankruptcy of a Member. A Member shall cease to have any power as a Member or Manager or Member, any voting rights or rights of approval hereunder upon bankruptcy, insolvency, dissolution the bankruptcy or assignment for the benefit of creditors of such Member, ; and the Member or its successor bankruptcy estate or trustee or assignee upon the occurrence of any such event shall have only the rights, powers and privileges of a transferee enumerated in Section 7.27.4, and shall be liable for all obligations of the Member under this Agreement. In no eventA Member shall cease to have any power as a Member, however, shall a personal representative any voting rights or successor become a substitute Member unless rights of approval hereunder upon the requirements death or legal incapacity of Section 7.2 are satisfiedthe Member.

Bankruptcy of a Member. A Member shall cease to have any power as a Member or Manager or any voting rights on the Management Committee or rights of approval hereunder upon voluntary or involuntary bankruptcy, insolvency, dissolution or assignment for the benefit of creditors of such Member, and its successor upon the occurrence of any such event shall have only the rights, powers and privileges of a transferee enumerated in Section 7.23.6.2, and shall be liable for all obligations of the Member under this Agreement. In no event, however, shall a personal representative or successor become a substitute Member unless the requirements of Section 7.2 Sections 3.6.2 and 3.6.3 are satisfied.

Bankruptcy of a Member. A Member shall cease to have any power as a Member or Manager or any voting rights or rights of approval hereunder upon bankruptcy, insolvency, dissolution or assignment for the benefit of creditors of such Member, and its successor upon the occurrence of any such event shall have only the rights, powers and privileges of a transferee enumerated in Section SECTION 7.2, and shall be liable for all obligations of the Member under this ------------ Agreement. In no event, however, shall a personal representative or successor become a substitute Member unless the requirements of Section SECTION 7.2 are satisfied.. -----------